The Volvo Ocean Race, considered one of the biggest five sports events in the world, could be staged in the beautiful city of Lisbon, Portugal as its officials prepare to vote over the issue on Tuesday.

The vote will be on whether the capital should spend €4 million on the 2014-15 and 2017-18 races.

According to a study by PricewaterhouseCoopers the 2012 edition in Lisbon had an economic impact of around €30 million, over half of which was a direct impact.

The study also said over 200,000 visitors came to Lisbon for the race.

Despite the cost, Mayor António Cost said the two races should come to Lisbon and wanted the race to start from the Portuguese capital.